Bed and Breakfast Consulting
Current Innkeepers have purchased and developed their Inn, marketed it to travelers, and created a hospitality niche like no other. Now might be the time to review where you are with your business and understand its full potential so you can determine when it is time to sell. To accomplish this, a Marketing Assessment and Valuation (MA&V) is our service that helps you with these answers. We examine your inn’s location, condition, and financials for its strengths and weaknesses and assess its market value using our analytical process that helps arrive at a “reasonable and successful price. This process can be used early to assist the Innkeeper with growth and improvement strategy or to begin the Selling process and get you to your next passion in life!
As a seasoned Innkeeper and professional consultant, we can also guide you to the correct resources in our industry to get you to where you want to be in this business. At any time, please schedule a free consultation to review your needs and how they are best solved.
Selling Your Inn
When you have determined it is time to sell, we will assist you with many activities to get you to the closing table and create a smooth transition to the new owners. Some of these may steps include:
- Develop a comprehensive Offering Report which are the best in the industry.
- Develop a marketing plan for your property that will attract financially qualified buyers to your property.
- Conduct a Room Readiness Plan to attractively “Stage” your inn.
- Coordinate buyers visits to the property, and follow up for feedback and questions
- Manage all viable offers and negotiate terms on behalf of the sellers.
- Preparation of financial books in a standardized format with short term projections…necessary for a BUYER’s business plan.
- Identify short-term cost controls to increase Net Operating Income (NOI).
- Manage a Seller’s Inspection and compile practical repairs and buyer negotiation plans.
- Compile a complete Asset Transfer List and your Gift Certificate Log and other pre-paid services list for fair credit at the settlement table.
- Compile a list of Buyer’s Opportunities for facility and financial growth.
- Regulatory requirement investigation and resolution.
Ready For Some Expert Advise?
I am here to help! I have worked with hundreds of innkeepers over the last 20 years. If you are looking to sell, buy, or just need consulting I am here for you. Please fill out my consultation form through the link below and let’s start up a discussion.